Lovington, NM Entrepreneur Gets SBA Loan to Buy Armstrong Mccall Franchise

Need a loan to invest in an Armstrong Mccall franchise? Pioneer Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Armstrong Mccall franchise? If so, here's a 2002 SBA franchise loan that you should know about. Pioneer Bank was the lender and the entrepreneur was based in Lovington, New Mexico.

SBA Loan Borrower

ARMSTRONG-MCCALL BEAUTY SUPPLY
LOVINGTON, NM 88260

SBA Loan Lender

PIONEER BANK
1020 N TURNER
HOBBS, NM 88240

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446120 - Cosmetics, Beauty Supplies, and Perfume Stores

Loan Approval Date

3/11/2002

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Armstrong Mccall franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This SBA loan was for $140,000. How would you spend $140,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Armstrong McCall

The Friends and Family Network

Find an SBA Lender in Hobbs, New Mexico

SBA Participating Banks in New Mexico